The governor of the Iraqi Central Bank said that the issue of removing the zeroes on the Iraqi currency is still being planned and studied and new steps will be taken in the near future and has not yet been decided.
"One of the issues the central bank is considering is the reorganization of the Iraqi currency units, including the issuance of 20,000 dinars," he said.
Here’s a conceptual image of a redesigned 10 Iraqi dinar banknote, reflecting the idea of redenomination after dropping zeros. Let me know if you’d like to see other denominations or design styles.
Exclusive: The US State Department outlines Trump's strategy toward Iraq.
The US State Department outlined the Trump administration's strategy toward Iraq on Friday, emphasizing that the United States prioritizes "trade over conflict."
The ministry's clarification came in an exclusive comment to Shafaq News Agency regarding how the US administration interpreted the letter of thanks recently sent by President Donald Trump to the President of the Kurdistan Region, Nechirvan Barzani, in which he praised his efforts in supporting "peacebuilding" and "ending regional conflicts."
Last Wednesday, US President Donald Trump expressed his thanks and appreciation to Kurdistan Region President Nechirvan Barzani for his efforts to promote peace and peaceful coexistence, and his endeavors to end conflicts in the Middle East.
In this regard, a State Department spokesperson told Shafaq News Agency, "President Trump has prioritized trade over conflict," noting that Washington "actively supports the growing interest of American companies in the Iraqi market."
According to the spokesperson, these companies "will bring advanced technology, increased revenue, and improved customer service to Iraq," as Iraq focuses on improving internal security and transparency. He reiterated the United States' commitment to "partners across Iraq working to build a truly sovereign, stable, and prosperous state."
He emphasized that the bilateral partnership aims to "protect Iraq's sovereignty, enhance regional stability, and strengthen economic relations," adding that this is "in line with the Strategic Framework Agreement between the United States and Iraq."
The spokesman concluded by saying that this agreement includes cooperation on key issues such as "Iraq's energy independence from Iran, the commercial investment climate, private sector and banking reforms, in addition to cultural preservation, educational opportunities, security, and defense."
In his letter to Nechirvan Barzani, President Trump emphasized the importance of "overcoming old rivalries" for "a shared future of peace, success, and progress."
Messages via Baghdad
"Strange and dangerous" official warning.. Iran talks about the existence of an American plan to "occupy Iraq"! What's the story?
An unusual warning issued by Tehran carried a striking escalatory tone, when the Chief of the General Staff of the Iranian Armed Forces, Major General Abdul Rahim Mousavi, said during his meeting with Iraqi National Security Advisor Qassem Al-Araji, that there is “a plan to occupy Iraq by the United States of America”. The phrase, which seemed surprising in its timing and content, puts Iraqi-Iranian and American relations before a delicate stage, entitled outright competition over Baghdad.
The meeting that brought the two parties together in Tehran was not protocol, but rather loaded with political and security messages. Mousavi used warning language against “a direct threat to Iraqi sovereignty”, while Al-Araji sought to confirm his country's commitment to the border control agreement and implement the terms of security cooperation with Iran. Between the two positions, a complex map of influence unfolds in which interests and threats overlap.
Speaking to Baghdad Today, strategic affairs expert Jassim Al-Gharabi believes that the Iranian warning “reflects the escalation of tension between Tehran and Washington within the Iraqi arena”, indicating that “Iranian discourse has shifted from diplomatic reservations to public warnings, which reflects real fears of American repositioning in the region, especially after the increase in American military movements in bases in western Iraq and northern Syria”.
Al-Gharabi points out that “Iran views Iraq as a strategic depth for its national security, and any American move to strengthen its military presence in Tehran is interpreted as a direct threat to its vital sphere”. Therefore, the latest speech is not read as a threat to Iraq as much as it is a double message of pressure: one for the Iraqi government to reduce the level of security cooperation with the United States, and another for the Iranian interior to confirm that the leadership is following the Iraqi file with interest and considers it a red line that cannot be crossed.
All eyes are on Baghdad, which once again finds itself at the heart of the US-Iranian conflict. According to strategic affairs specialists, the Iraqi government, which is trying to maintain its partnerships with both parties, now faces a difficult equation: securing its security and economic cooperation with the United States without angering Tehran, and continuing regional commitments without being accused of being part of an external project.
The Iranian warnings come at a time when the Middle East is witnessing a change in military alignment maps, as Washington has begun to rearrange its positions in the region after previously announcing “tactical redeployment”. This concept, which goes beyond the idea of withdrawal or return, indicates an American desire for flexible movement between bases to secure vital interests, including monitoring Iranian influence in Iraq and Syria.
Iraq here is not just a logistical corridor or a military arena, but rather a focal point for both projects: the American, who seeks to stabilize balances and prevent the expansion of Iranian influence, and the Iranian, who sees Iraq as a primary defense arena for his political and security borders.
The Iranian warning carried more than one meaning between its lines. On the one hand, it is pressure on Baghdad to reduce military cooperation with Washington, and on the other hand, it reflects growing concern about the return of American activity inside Iraqi territory.
Informed political sources confirm that “Iranian statements intersect with information about increasing American logistical movements in areas of western Iraq, as part of a plan to redistribute forces and enhance defense capabilities in the face of any escalation with Tehran or its proxies”.
On the other hand, the Iraqi government seeks to absorb these messages without entering into a direct confrontation. Al-araji's statements after the meeting clearly reflected this when he stressed that “Iraq will not allow its territory to be used to threaten any neighboring country”, which is a cautious formula that tries to combine reassurance for Iran with preserving Baghdad's security obligations with the United States.
According to analytical readings, the Iranian warning is not isolated from a broader context that includes the indirect confrontation between Tehran and Washington on multiple files, from the nuclear program to Gulf security and navigation routes. Iraq remains at the heart of these issues, because it constitutes a contact area between the American and Iranian spheres, and a critical location for any new regional balance.
In practice, Iran is trying to prevent any American redeployment that might restore Iraq's role “advanced base” as was the case after 2003, while Washington seeks to restore its influence, which has been eroded over the past decade by the expansion of armed factions and the growth of Iranian political and economic influence. This contradiction makes every warning, every statement, part of a broader game run with calm nerves over a burning table.
Recent events show that Iraq stands at a delicate crossroads in its modern history. Every step in foreign policy is now measured on a double scale: loyalty and interest. Tehran's warning is not just an expression of concern, but a test message for Baghdad's position on major balances. The United States, for its part, has not commented directly, but continues to expand its presence in the areas of training, reconnaissance, and security liaison.
In this context, Iraq's options appear limited but not non-existent. Maintaining positive neutrality requires strong internal tools and a unified national position that does not allow the state to slide towards a specific axis. Iraq is unlikely to be a new arena of conflict between two powers vying for influence. What is required today is not bias, but rather managing the balance wisely to ensure that the Iraqi decision remains within the limits of sovereignty, not outside it.
The Iranian warning reminded Baghdad that the conflict is not over, and that the independence of national decision-making is not measured by rhetoric but by the state's ability to prevent others from turning its territory into a pressure card. Between Mousavi and Al-Araji, new chapters of the influence game are being written, the page of which has not been closed for two decades, according to observers.
Trump's new envoy to Iraq: a new page of trust between Baghdad and Washington
The US Special Envoy to Iraq, Mark Savaya, confirmed today, Friday, that his mission is focused on rebuilding trust and strengthening the strategic partnership between Baghdad and Washington, noting that the relationship between the two countries is going through a delicate stage that requires direct and honest communication that serves the interests of the two peoples.
Savaya is the third US envoy to Iraq since 2003, after Paul Bremer during the period after the fall of the former regime, and Brett McGurk, who took over the mission at the height of the war against ISIS in 2014.
In an interview with Chaldean Press, Savaya said, "The United States does not seek to impose an agenda on Iraq, but rather to support an independent government capable of making its sovereign decisions with complete freedom".
He added: "My goal is to work with all Iraqi parties –political, religious, and economic– to ensure a stable and prosperous Iraq that can be a true partner of the United States, away from regional conflicts".
The US envoy pointed out that Iraq possesses enormous human and economic potential, and that investing it properly could make it a regional center for development and stability in the Middle East.
Savaya concluded his speech by saying: "My upcoming visit to Baghdad will be a clear message that Washington is committed to supporting a strong and unified Iraq, and that a new page of cooperation has already begun between the two countries".
Last Sunday evening, US President Donald Trump announced the appointment of Mark Savaya as special envoy to Iraq, stressing through his Truth Social platform that "Mark's deep understanding of the relations between Iraq and the United States and his broad connections in the region will contribute to strengthening the interests of the American people".
Trump noted that Savaya was a prominent figure in his election campaign in Michigan, and contributed to achieving a record number of Muslim Americans voting for him.
Mark Savaya is coming to Baghdad with a message: I will make Iraq great again.
US Special Envoy to Iraq Mark Savaya affirmed on Friday that his mission focuses on rebuilding trust and strengthening the strategic partnership between Baghdad and Washington, noting that the relationship between the two countries is going through a phase that requires direct and honest communication that serves the interests of both peoples.
Mark Savaya is the third US envoy to Iraq, since Paul Bremer in 2003, and after Brett McGurk during the war against ISIS in 2014.
"The United States does not seek to impose an agenda on Iraq, but rather to support an independent government capable of making its own sovereign decisions," Savaya said in an interview with Chaldean Press , translated by Shafaq News Agency.
He added, "My goal is to work with all Iraqi parties (political, religious, and economic) to ensure a stable and prosperous Iraq that can be a true partner to the United States, free from regional conflicts."
According to the US envoy, Iraq possesses enormous human and economic potential, and if properly invested, it will become a regional hub for development and stability in the Middle East.
Savaya concluded his remarks by saying, "My upcoming visit to Baghdad will be a clear message that Washington is committed to supporting a strong and unified Iraq, and that a new page of cooperation has already begun between the two countries."
Last Sunday evening, US President Donald Trump appointed Mark Savaya as special envoy to Iraq.
Trump wrote on his Truth Social platform, which was followed by Shafaq News Agency, that "Mark's deep understanding of the relationship between Iraq and the United States, and his extensive connections in the region, will contribute to advancing the interests of the American people."
He explained that Savaya was a "prominent figure" in Trump's campaign in Michigan and contributed to a record number of Muslim American voters.
Washington resets relations with Baghdad: a final test for al-Sudani and a search for an "alternative candidate"
The Atlantic Council concluded by warning that the increasing US pressure and actions regarding the Popular Mobilization Forces (PMF) portend more difficult and complex US-Iraqi relations, potentially undermining them in the security, political, and economic spheres. The report noted that the period following the upcoming Iraqi elections will be a real test of this, as Washington may resort to supporting a candidate for prime minister who is not affiliated with the PMF factions.
The American Institute indicated, in a report translated by Shafaq News Agency, that the recent phone call between US Secretary of State Marco Rubio and Iraqi Prime Minister Mohammed Shia al-Sudani, during which he emphasized the need to "disarm the Iranian-backed militias that undermine Iraq's sovereignty," represents the first time a senior US official has explicitly used the word "disarmament" to describe Washington's position on the fate of these Iranian-backed Iraqi groups.
The US report considered that the statement issued by the Iraqi side regarding this phone call and the request made by Secretary Rubio did not mention the term "armed factions." The statement appeared to include veiled criticism of "unilateral" US measures affecting Iraq, instead calling for prior "contact and consultation," an apparent reference to recent US actions targeting the Popular Mobilization Forces (PMF).
While the report noted that Washington's demand, which calls for the disarmament of the Popular Mobilization Forces (PMF), has been clearly communicated, it stated that key questions remain: What does "disarmament" actually mean? How and when will it be implemented? Which factions within the PMF will be affected? And who will carry it out?
According to the report, the US government is seeking to take advantage of the post-October 7 regional environment to intensify pressure on the Iran-led axis, including in Iraq.
The report stated that "the true test of this strategy will come during the formation of the government after the elections, when it becomes clear how serious Washington is regarding those it classifies as Iranian-backed militias, and what role it will allow them to play within Iraq's civilian and military structures."
The report listed recent US actions against the Popular Mobilization Forces, including the US State Department's September designation of four armed factions as foreign terrorist organizations: Harakat al-Nujaba, Kata'ib Sayyid al-Shuhada, Harakat Ansar Allah al-Awfiya, and Kata'ib Imam Ali. It noted these groups' ties to Iran and their attacks across Iraq, including against the US embassy and US and coalition bases.
He also pointed to President Donald Trump's recent national security memorandum, issued in February, which calls for "maximum pressure" on Tehran and its allied groups.
The report also noted the US Treasury Department's decision on October 9 to impose sanctions on the Al-Muhandis General Company, which is linked to the Popular Mobilization Forces (PMF), and on financial networks linked to the Iranian Revolutionary Guard Corps (IRGC), for "diverting funds from Iraqi government contracts to the PMF" and facilitating "money laundering for Iran."
The report stated that the Iraqi government responded to these US steps by describing them as "extremely regrettable and inconsistent with the spirit of friendship and mutual respect" that has characterized bilateral relations between the two countries.
In the same context, the report noted Washington's intense diplomatic campaign to prevent the Iraqi government and Shiite leaders from passing a new law on the Popular Mobilization Forces, including a warning from Secretary Rubio that this legislation "would institutionalize Iranian influence and armed terrorist groups that undermine Iraq's sovereignty."
The report continued that, under intense US pressure, the Iraqi parliament and major Shiite groups did not proceed with the vote on the law after repeated attempts in July and August failed to achieve a quorum. It noted that Kurdish and Sunni groups opposed the law's passage.
While the report stated that these American moves indicate Washington's strong interest, and an extension of its Iranian policy, in containing the pro-Iranian armed factions and their influence, it considered that Washington's confrontational stance could exacerbate the complexity of its relations with Iraq.
He continued by saying that in light of the growing US opposition to expanding the role of the Popular Mobilization Forces (PMF) within the Iraqi military-security complex, this would weaken US-Iraqi security cooperation, lead to stricter restrictions on intelligence sharing, complications in US training and advisory operations, and support for counterterrorism missions involving mixed formations that include PMF units, in addition to the emergence of stricter oversight of the end-use of weapons and equipment provided by the United States.
The report stated that in 2017, it was revealed that Popular Mobilization Forces units possessed American Abrams tanks and used them in operations against Kurdish Peshmerga forces, sparking controversy within Congress.
He explained that expanding the role of the Popular Mobilization Forces (PMF) could limit Washington's willingness to intervene to protect Iraq from potential attacks by external actors, such as Israel, against the PMF. He noted that the United States was credited with helping to keep Iraq out of regional turmoil after October 7, despite attacks by PMF factions on Israel.
The report predicted that the US campaign against the Popular Mobilization Forces (PMF) would have significant repercussions on the political process in Iraq, pointing to the significant role played by parties allied with the PMF since 2022 and their key participation in the coalition forming the government.
He believes that the US campaign and its repercussions on internal forces, including the Sadrists' absence from the elections, could further complicate the political process in Iraq and the formation of a government after November. Washington is likely to seek to leverage the current momentum against the Iran-led regional front to oppose a prominent role for the Popular Mobilization Forces (PMF), or even the involvement of pro-Iran PMF factions in a future government, as part of its broader efforts to counter Iranian influence.
The report considered that one possible outcome of US opposition to these active factions is that Washington would support a prime minister unaffiliated with the Popular Mobilization Forces, while not opposing some roles for these groups in other positions within the government.
He pointed out that given the expanding role of the Popular Mobilization Forces (PMF) in the Iraqi economy, US actions against the PMF and other Iranian-linked actors could also impact the Iraqi economy, citing US sanctions on the banking, oil, and airline sectors.
The report noted that all of these issues raise the question of what the next government and the dominant actors can do after the November elections to address US concerns.
He wondered whether Washington would push to integrate the Popular Mobilization Forces (PMF) factions into Iraq's security and military apparatus under the firm control of the commander-in-chief. Or would it attempt to dissolve the PMF (not unlike what is currently happening with Hezbollah) and diminish its status within other security forces?
While the report considered all of these scenarios unlikely in the absence of a major shift in the regional balance of power, such as the collapse or further weakening of the Iranian regime, it recalled what the head of the Popular Mobilization Forces, Faleh al-Fayyadh, said last August: "Dissolving the Popular Mobilization Forces would be tantamount to suicide, and I do not expect it to come from the religious authority or the state."
The Atlantic Council concluded by saying, "Either Washington shows flexibility on the PMF issue, or the issue will continue to weaken and undermine the US-Iraq relationship," adding that based on current rhetoric on both sides, "turbulence in the bilateral relationship may characterize the next year or two."
Iraq's Coordination Framework Has Limited Options in Disarming Factions
Tensions between Baghdad and Washington have been growing more strained in recent days, particularly after the telephone talks between Prime Minister Mohammed Shia al-Sudani and US Secretary of State Marco Rubio, who urged Iraq to disarm Iran-backed militias.
US President Donald Trump also sprung a surprise with the appointment of Iraqi-American businessman Mark Savaya as his special envoy to Iraq.
During their telephone call earlier this week, Rubio “highlighted the urgency in disarming Iran-backed militias that undermine Iraq’s sovereignty, threaten the lives and businesses of Americans and Iraqis, and pilfer Iraqi resources for Iran,” said the State Department.
“The Secretary reiterated the US commitment to working closely with Iraqi partners to advance our shared interests: safeguarding Iraqi sovereignty, bolstering regional stability, and strengthening our economic ties,” it added.
The talks have put the ruling Iran-backed Coordination Framework coalition in Iraq in a tight spot. Sources from the coalition said it met on Wednesday night to discuss the latest American position on Iraq. Rubio’s disarmament call sparked outrage in the coalition, which brings together Iraq’s most prominent Iran-backed Shiite political forces.
The meeting tackled the telephone call, as well as the framework agreement on the withdrawal of US troops from Iraq, said an informed source, according to local media. It also discussed security pledges between Baghdad and Washington.
These developments took place as debate is growing in Iraq about the future of relations with US, especially in wake of Savaya’s appointment, which observers interpreted as a shift in Washington’s policy towards Baghdad after years of “inaction”.
The Coordination Framework did not issue a statement after the meeting, but informed sources told Asharq Al-Awsat that its leaders have very limited options at their disposal when it comes to disarming the militias. Calculations related to the November 11 parliamentary elections have also taken precedence over this issue.
Iraq’s highest Shiite authority Ali al-Sistani had in June called for state monopoly over arms, warning that the circumstances that have prevailed in wake of the Iran-Israel war are “very dangerous”.
‘Conspiracies’
Former Prime Minister and head of the State of Law Coalition of the Coordination Framework Nouri al-Maliki, meanwhile, warned of “conspiracies against the political process in Iraq.”
Speaking at an electoral gathering in Karbala, he described the upcoming polls as a “national and constitutional duty that must not be obstructed.”
“Parliament is the spirit of the state through which democracy is built and governments are formed,” he added.
He spoke of “threats targeting its national unity and elections,” saying they were part of a “broader plot targeting the Iraqi state and its democratic system.”
Former MP Haider al-Mulla told Asharq Al-Awsat that Hamas’s October 2023 attack against Israel marked a turning point in the region, as well as the “phase of relations between Shiite powers and the US and the beginning of a new phase between Washington and some Sunni forces in the region.”
He predicted that “these changes will be capped with changes in Syria and collapse of the Iranian axis,” noting that Trump’s appointment of a new envoy is evidence of the new phase.
Iraq will feel the negative and positive repercussions of the changes in Syria and Iran, he remarked, stressing that the disarmament of militias is now “inevitable after the reasons for carrying weapons no longer exist.”
Media professor Ghaleb al-Daami told Asharq Al-Awsat that the latest American statements have put the Iraqi government “on the spot”, especially since its stances appear to be different than Washington’s.
“The problem doesn’t lie with the government itself, but with its ties to the Coordination Framework, whose options are becoming more limited. The US is no longer willing to give it room to maneuver,” he said.
Politician Abbas Abboud said relations between Baghdad and Washington are “facing their greatest test since 2003.”
Savaya’s appointment is a sign that the American administration “is no longer on side with the parties that were handling communication” with Iraq, he noted.
The Coordination Framework, for its part, does not have a united stance towards Washington in that it does not want to spark a crisis with it, while at the same time, it cannot abandon its regional commitments.
The Swiss Embassy reopens in Baghdad after 30 years of closure: a step towards strengthening bilateral relations.
The Swiss embassy in Baghdad was officially reopened on Thursday, in the presence of Iraqi Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein and Swiss Foreign Minister Ignazio Cassis. The event was described as a turning point in relations between Iraq and Switzerland, after a three-decade hiatus.
The opening ceremony was attended by a number of senior Iraqi officials and members of the Swiss delegation. In his speech, Minister Fuad Hussein emphasized that this step reflects the international community's confidence in the stability Iraq is experiencing. It also paves the way for expanding political and economic cooperation and opening the doors to investment for Swiss companies in the Iraqi market.
For his part, Swiss Minister Ignazio Cassis welcomed the return of Swiss diplomatic representation to Iraq, stressing that his country views Iraq as an important partner in the region and that the opening of the embassy reflects Switzerland's commitment to supporting stability and development efforts in the Middle East.
This opening marks the culmination of a process of diplomatic rapprochement between the two countries and a step toward a more cooperative and partnership-based future.
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US report: Modernizing Iraq's underdeveloped banking system is a priority
The American magazine "Global Finance" revealed today, Thursday, that economic diversification in Iraq is still limited, noting that modernizing the "backward" banking system is one of the country's priorities.
The magazine stated in a report seen by Al-Sa'a Network that "Iraq's GDP is expected to recover in 2025 after two consecutive years of recession, driven mainly by a recovery in oil production."".
She pointed out that "the Iraqi economy remains heavily dependent on the hydrocarbon sector, which constitutes approximately 95% of government revenues, making it vulnerable to fluctuations in global oil prices."".
She added, "Economic diversification has been on the table for a long time, but progress is still limited. In response, the Central Bank of Iraq is strengthening what it described as (developmental central banking), focusing on directing credit towards strategic sectors such as agriculture and industry to expand the country's economic base".
The magazine explained that "modernizing the backward Iraqi banking system is another priority, as work is underway to reform state-owned banks, in addition to initiatives aimed at reducing dependence on cash."".
She added, "Despite efforts to combat money laundering and terrorist financing, the Central Bank of Iraq still faces significant compliance challenges, and many Iraqi banks remain restricted in dollar transactions due to concerns about illicit financial flows to sanctioned entities."".
The report pointed out that "in early 2025, the authorities revealed a new scheme that includes prepaid cards (Visa and MasterCard) used to transfer money to Iranian-backed militias. In response, the Central Bank of Iraq set a ceiling for monthly cross-border transfers at $300 million, and individual transactions at $5,000."".
In May 2024, new regulations were issued to regulate the work of digital banks and electronic payment companies, encouraging many new entities to enter the Iraqi market
DAMAC International enters Iraqi real estate market with phase one of DAMAC Hills Baghdad
DAMAC Hills Baghdad is part of a larger development that spans 6.2 million square meters
Published: Thu 23 Oct 2025, 1:57 PM
Last updated: Thu 23 Oct 2025, 1:57 PM
DAMAC International announced on Thursday its official entry into the Iraqi real estate market by launching phase one of its new master community, DAMAC Hills Baghdad, featuring three clusters: Misk, Fayrouz and Lamar.
DAMAC Hills Baghdad is part of a larger development that spans 6.2 million square meters. The community is situated in a prime location facing Abbas Ibn Firnas Square, just five minutes by car from Baghdad International Airport and nearby universities, 10 minutes from the Green Zone and Al-Mansour district and 15 minutes from the city’s leading hotels.
DAMAC celebrates Iraq’s timeless and refined design heritage
As DAMAC International’s first project in Iraq, the development aligns with the National Investment Commission’s drive to attract greater foreign investment.
“We are proud to launch the first phase of DAMAC Hills Baghdad, which marks a new starting point for DAMAC in Iraq. This project reflects our ambitious vision to deliver luxury real estate that elevates quality of life and supports the national development efforts, in line with Baghdad’s Comprehensive City Development Plan 2030,” said Majid Al Ghazali, senior vice president of projects at DAMAC International and managing director of DICO International – Iraq.
“As one of the largest real estate developments in the capital, Baghdad, this project offers a diverse selection of elegantly designed luxury villas in various sizes, offering four and five-bedroom layouts, with architectural styles that celebrate Iraq’s timeless and refined design heritage,” Al Ghazali added.
DAMAC eyes Middle East expansion
DAMAC Hills Baghdad also supports ongoing efforts to enhance infrastructure and accelerate urban growth in Baghdad. Strategically, it represents a key step in DAMAC International’s vision to expand its real estate portfolio across the Middle East by entering the Iraqi market through the gateway of the capital.
The project underscores the company’s commitment to offering contemporary homes that blend Iraqi authenticity with world-class standards, meeting the aspirations of both residents and investors.
The gated community features a comprehensive array of integrated amenities, including central parks, a health club, leisure spaces, contemporary restaurants and cafés, as well as advanced utilities such as a modern water supply system, an on-site power substation and solar-powered heating. Residents will also benefit from regular maintenance services and 24/7 security and surveillance.
FAT Brands to Open 10 New Stores in Iraq
FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Great American Cookies and Marble Slab Creamery, has announced a development agreement to open ten co-branded stores across Iraq over the next five years. The partnership is with Eric Wilson, a 27-year U.S. military veteran who previously served in Iraq.
Taylor Wiederhorn, Chief Development Officer of FAT Brands, said the company continues to build its presence in Iraq, where it already operates seven locations. He expressed confidence that the launch of Great American Cookies and Marble Slab Creamery will succeed given the growing demand for American brands and Wilson's commitment as a local operator.
Founded in 1977, Great American Cookies is known as the creator of the Original Cookie Cake and for its signature chocolate chip cookie recipe, along with brownies and Double Doozies™ - icing-filled cookie sandwiches. Marble Slab Creamery, a pioneer in the ice cream industry for over 40 years, introduced the frozen slab technique and offers homemade, small-batch ice cream with free mix-ins, shakes, and ice cream cakes.
Macron: Al-Sudani presented a great agenda for Iraq
French President Emmanuel Macron announced that his country is "a major supporter of Iraq's sovereignty", whose stability and respect for its sovereignty are a very important pillar of the stability of the region.
Macron said about the upcoming elections that he "will never interfere in elections in a third country, but I have a great deal of affection for Iraq, and I believe that the Prime Minister has presented a great agenda for his country".
He added, "At this moment when instability prevails in the entire region, Iraq's stability and full respect for its sovereignty are a very important pillar for the stability of the entire region".
Regarding his intention to visit Iraq, Macron replied: "I plan to visit Iraq this year, I hope so".
OIL NEWS
Next month.. Resuming the export of Kirkuk oil via the Kurdistan Region pipeline to Ceyhan, Turkey
According to the oil loading schedule, Kirkuk oil is scheduled to begin exporting with Kurdistan Region oil via a pipeline to the Turkish port of Ceyhan starting next month, according to Reuters.
Iraq is scheduled to export 12 shipments of crude oil from Kirkuk via the Turkish port of Ceyhan to global markets next month.
The table shows that the total oil exported through the pipeline will reach about 250,000 barrels per day in November, indicating continued progress since the resumption of Kurdistan Region oil exports from the Turkish port of Ceyhan in late September.
The export of crude oil from Kirkuk fields had previously stopped for more than two and a half years with the export of Kurdistan Region oil; the reason was a legal problem between Baghdad, Ankara and the Kurdistan Regional Government over control of oil sales and revenues.
The resumption of exports in late September came after several months of negotiations to resolve technical and trade problems between Baghdad and Erbil.
According to an agreement between Erbil, Baghdad and international oil companies, which will be in effect until the end of this year, 280,000 barrels of oil will be produced daily within the borders of the Kurdistan Region alone, and 230,000 barrels of this amount will be exported, and another 50,000 barrels will be allocated for local consumption to refineries in the Kurdistan Region.
Sending oil via a pipeline to the port of Ceyhan stopped after the decision of the International Court of Arbitration in Paris in March 2023, which ordered Turkey to stop the independent export of oil from the Kurdistan region via a pipeline.
The port of Ceyhan, located on the Mediterranean coast, plays a major role as an export center for Iraqi and Azerbaijani crude oil.
The resumption of Kirkuk oil exports via Ceyhan is considered an important step in Iraq's efforts to increase oil revenues, at a time when it faces continuing pressures on the budget and fluctuations in global markets.
Iraq, OPEC's second-largest oil producer, relies on oil exports for more than 90% of its revenues.
The gradual return of Kirkuk and Kurdistan Region oil to global markets is expected to enhance the country's production capacity and provide additional supply options to global refineries
Details of the largest oil deals in Iraq.. Baghdad seeks to produce 8 million barrels per day
Iraq's largest oil deals achieved a qualitative leap during the first nine months of 2025, after signing a series of strategic agreements and deals with major international companies to boost production and develop the oil sector's infrastructure.
According to a recent economic survey, these moves were directly reflected in Baghdad's plans to increase its export capacity and achieve an advanced position in global markets.
Iraq has concluded a series of huge contracts with British, American and Chinese companies, including the development of giant fields, investments in petrochemicals, pipeline projects, in addition to artificial intelligence and robotics technologies.
The largest oil deals in Iraq in 9 months indicate that Baghdad sets the goal of reaching production exceeding 8 million barrels per day in the coming years, as part of an integrated strategy aimed at diversifying sources of income and enhancing foreign direct investments.
Through these agreements, Iraq has consolidated its position on the list of the largest oil deals in the region and the world, proving that Baghdad is on a clear path towards regaining its position as a major player in global energy markets.
Developing oil reserves - January 2025
At the forefront of the largest oil deals in Iraq in January 2025 came a deal with the British company BP to develop reserves estimated at more than 9 billion barrels, with the aim of raising Iraq's production to 8 million barrels per day within 3 years.
Under the agreement, the Iraqi Ministry of Oil is working with BP to redevelop the Kirkuk field and neighboring fields, as part of a preliminary agreement dating back to August 2024, which represents a major step among the largest oil deals in Iraq in the recent period.
The project also aims to refer the rehabilitation and development operations of 4 fields belonging to the North Oil Company to the British company, while adopting the latest technical methods, to reach the best production rates of oil and gas.
Two agreements with two American companies - February 2025
The list of the largest oil deals in Iraq was strengthened by the signing of two agreements with the American company Halliburton in February to develop the Nahr Bin Omar and Sinbad fields in Basra, in a move aimed at increasing production and achieving greater efficiency in investing national resources.
Under the agreements, Halliburton will begin field and evaluation studies of the two fields, while developing production plans that will raise the Nahr Bin Omar field from 45,000 barrels per day to 300,000 barrels per day, consolidating its role among the largest oil deals in Iraq.
The plans also include investing in associated gas and employing the latest technical and economic models to develop production, which enhances oil revenues and supports Iraq's economic growth, according to what was reviewed by the specialized energy platform.
Artificial Intelligence Support - February 2025
Artificial intelligence was the hero of one of the largest oil deals in Iraq during February 2025, through an agreement to apply it in the East Baghdad field, with the Chinese company SBS, to develop monitoring technologies and improve the efficiency of oil extraction.
The deal aims to use advanced systems to monitor wells and reduce response time to faults, which enhances the operational performance of the field and reflects Iraq's trend towards innovation, according to what was followed by the specialized energy platform.
The new system allows data to be integrated and analyzed directly via smartphones, making it easier for engineers to make immediate decisions, and making the East Baghdad field a model for modern technologies in the oil sector.
Development of 4 oil fields - March 2025
Baghdad continued to support the largest oil deals in Iraq, through a contract with the British oil company BP, to develop 4 fields in Kirkuk, adding 150,000 barrels per day to the country's production capacity.
Under the deal, BP will invest about $25 billion in projects including oil, gas and water, making it one of the largest foreign investments, and dedicating this deal among the largest oil deals in Iraq for the year 2025.
This agreement returns the British company to Iraq after an absence since 2019, constituting a pivotal step in developing giant reserves and increasing production in the long term.
Technology for exploiting robots - March 2025
Baghdad witnessed a prominent deal among the largest oil deals in Iraq, which was the introduction of robots to detect oil pipeline malfunctions, in cooperation with the Chinese company "EBS", which operates the southern eastern Baghdad field.
According to a statement from the Iraqi Ministry of Oil, the new technology allows for the detection and treatment of rust and leaks, which contributes to extending the life of the pipeline and increasing operating efficiency, making this deal a technical example among the largest oil deals in Iraq.
The plan includes the use of high-quality insulating coatings and the development of comprehensive maintenance programs, which will enhance the level of safety in crude oil transportation operations.
A pipeline to transport Iraqi oil - April 2025
An agreement between the Iraqi Ministry of Oil, the Italian Micobre coalition, and the Turkish Esta to build a pipeline with a design capacity of up to 2.4 million barrels per day came at the forefront of the largest oil deals in Iraq.
Under the contract, the pipeline will be built to increase the flexibility of oil export operations through the ports of Basra, Khor Al-Amaya and the floating platform, as the project is a fundamental pillar of Baghdad's future plans to enhance the stability of its supplies and increase its oil revenues through modern infrastructure.
Iraq-China deal - May 2025
An important agreement with China occupied a prominent position among Iraq's largest oil deals, which included a comprehensive agreement to develop the Touba field, establish a refinery and petrochemical plant, and thermal and solar power plants.
The deal aims to raise the field's production to 100,000 barrels per day, in addition to establishing a refinery with a capacity of 200,000 barrels, along with petrochemical and fertilizer projects, to enhance industrial and economic integration, while supporting the country's electricity sector.
Hamrin Field Development - July 2025
An agreement with the American company HKN to develop the Hamrin field entered the list of the largest oil deals in Iraq during the first 9 months of this year.
The deal, the details of which were reviewed by the specialized energy platform, aimed to increase the production of the Iraqi Hamrin field to 60,000 barrels per day, in addition to investing in associated gas.
Through this deal, Baghdad seeks to enhance its current production, amounting to 20 to 25 thousand barrels per day, so that the Hamrin field becomes an important pillar in the plans for the largest oil deals in Iraq.
The agreement also aims to support the local electricity sector through gas exploitation, enhancing integration between the oil and energy sectors.
Increased production of 7 fields - September 2025
Baghdad concluded the list of the largest oil deals in Iraq during the first 9 months of 2025, with a contract to secure the seawater network to support reservoir pressure and increase the production of 7 giant fields.
Under the deal, which Basra Oil Company signed with China's CBB, a 950-kilometre network is scheduled to be built, making it one of the largest strategic projects among the largest oil deals in Iraq.
The plan aims to sustain the production of giant fields such as Rumaila, Zubair, West Qurna and Majnoon, in addition to supporting the Maysan and Dhi Qar fields, thus consolidating Iraq's position in energy markets.
Al-Sudani: The government has achieved an economic transformation, with international accolades, in less than three years.
Prime Minister Mohammed Shia al-Sudani affirmed on Thursday that the Iraqi government has achieved a real economic transformation in less than three years, as attested by international institutions. He noted that the results of the reforms adopted will become clear in the coming years.
During his reception of sheikhs and dignitaries of the Al-Izirj clan in Baghdad, according to a statement from his media office, Al-Sudani said, “The results of the sixth parliamentary elections will either establish stability that preserves what has been achieved during this period, or lead to regression and squandering of the achievements.” He pointed out that “there are those who practice lying, deception, and distortion in an attempt to influence the achievements made and confuse the scene.”
He continued, "Our government came into office during difficult circumstances, and from the first day of its term, it began addressing citizens' needs and priorities." He noted that "the government took an important step in appointing graduates and securing permanent contracts and lecturers."
He pointed out that "the services file was a priority in our work through service efforts, completing stalled and suspended projects, and launching new projects in Baghdad and the governorates."
He added, "The ballot boxes will determine how the country will be run for the next four years, and voters must carefully choose who will represent them in the House of Representatives."
He pointed out that "we have preserved Iraq's security and stability, avoiding any emotional stances, while maintaining our principled position in support of the Palestinian cause."
The 2026 budget is on the back foot: concerns about its enactment and questions about the 2025 schedules.
Despite the government's failure to submit its 2025 budget schedules to the House of Representatives, resulting in the suspension of funding for a large number of projects and the disruption of employee bonuses and promotions, the government began preparing the 2026 budget at a time that observers described as late and pointless.
The Prime Minister's financial advisor, Mazhar Mohammed Saleh, confirmed that the Ministry of Finance has begun preparing the 2026 budget, while determining the disbursement mechanism in the event that the budget cannot be approved.
Saleh said, "There are two hypothetical scenarios for the 2026 budget."
He added, "The first scenario indicates a continuation of the expansionary approach to public spending," assuming the price of oil remains stable at $70 per barrel, which remains subject to unstable market and international political balances, making this scenario fraught with risks."
He explained that the second scenario, based on a price of $60 per barrel, represents a more conservative and realistic option, consistent with fiscal consolidation policies and the promotion of sustainability.
Saleh stressed the importance of diversifying revenue sources and activating non-oil sectors as the cornerstone for narrowing the deficit gap and ensuring long-term financial balance, while maintaining the hypothetical deficit ceiling of approximately 64 trillion dinars (about $49 billion) for hedging purposes.
Experts believe that the government's commencement of preparing the 2026 budget at this time, despite the delay in the 2025 budget schedules, indicates attempts to secure a preliminary draft for the next government, but these efforts are not necessarily linked to actual implementation.
In the dead of time,
parliamentary Finance Committee member Ma'i Al-Kadhimi asserted that "the government's commencement of preparing the 2026 budget comes at what he described as 'lost time,' just 20 days before the election date. The government is expected to become a caretaker government and the current parliament's term will end, reducing the chances of actually completing the budget project."
Al-Kadhimi told the Iraq Observer, "Preparing the 2026 budget at this stage does not necessarily mean that the next government will adhere to the submitted draft, as it is likely to make substantial amendments to it after its formation." He noted that this draft may only constitute a preliminary basis for the new government.
He pointed out that "the 2025 budget, which relied on financial tables to facilitate the issuance of promotions and bonuses to employees, never reached the House of Representatives, causing these entitlements to be delayed despite the Finance Committee's repeated emphasis on the need not to link them to tables."
He added, "The Ministry of Finance insisted on not releasing promotions and bonuses until the schedules were completed, which has not happened."
Al-Kadhimi explained that "the remaining time period does not allow for comprehensive negotiations between the Ministry of Finance and other ministries regarding their needs," stressing that "time is not sufficient to prepare a comprehensive budget, whether operationally or investment-wise, which makes this project more of a guiding draft for the next government than a budget law ready for implementation."
The 2025 budget schedules have been delayed, amid warnings from parliamentarians and economic experts that this delay has led to a partial paralysis in the Iraqi market and impacted the flow of financial dues to institutions and the private sector.
This delay comes more than two years after the approval of the three-year budget for the years 2023, 2024, and 2025 on June 12, 2023, which was considered the first of its kind in modern Iraqi history.
'No Crazy War, Please!': Venezuela's Maduro Pleads for Peace
Venezuelan President Nicolás Maduro pleaded "No crazy war, please!" as the U.S. escalated its military campaign with B-1 bomber flights and covert action threats.
link from kurdish news
The Venezuelan President Nicolás Maduro on Thursday implored the United States to avoid a "crazy war," as a dramatic and rapidly expanding American military campaign in the Caribbean and Pacific sends tensions soaring to their most dangerous levels in years.
As reported by Agence France-Presse (AFP), Maduro's appeal for peace came as his government mobilized its own forces in response to a massive U.S. deployment and a series of lethal strikes at sea, a campaign that Washington frames as a "war on drugs" but which Caracas and a growing number of observers view as a thinly veiled prelude to a regime-change operation.
"Yes peace, yes peace forever, peace forever. No crazy war, please!" Maduro said, speaking in English during a meeting with unions aligned with his leftist government. His plea was a direct response to a cascade of aggressive moves and rhetoric from the administration of U.S. President Donald Trump, who just last week confirmed he had authorized covert CIA action inside Venezuela and is openly considering strikes against alleged drug cartels on land.
The situation has created a tense and volatile standoff, with the U.S. projecting overwhelming military power and the Venezuelan government vowing to resist what it sees as an imminent threat to its sovereignty.
The American military ramp-up has been swift, formidable, and undeniable.
As detailed in a Kurdistan24 report, the U.S. has surged over 10,000 troops, eight warships, a submarine, and an array of advanced aircraft, including stealth warplanes and surveillance drones, into the region.
The most recent and potent display of this power came on Thursday, when the U.S. flew powerful, supersonic B-1 bombers near the Venezuelan coast.
The flights, confirmed by senior U.S. officials and flight tracking data to media outlets like The Wall Street Journal and Fox News, were a clear and unmistakable signal of "seriousness and intent," as one retired Air Force general described it.
The public justification for this massive deployment is an unprecedented crackdown on what President Trump has labeled "narcoterrorists."
At a White House roundtable on Thursday, Trump celebrated what he called a "sweeping, unprecedented, and historically successful operation... to arrest, prosecute and permanently remove members of foreign drug cartels from American soil," declaring the cartels to be "the ISIS of the Western Hemisphere."
The most controversial and deadly element of this campaign has been a series of lethal kinetic strikes against suspected drug-trafficking vessels at sea.
The U.S. strikes, which began on September 2, have now killed at least 37 people, according to an AFP tally based on U.S. figures. The campaign has seen nine vessel strikes to date, targeting what the U.S. says are drug boats and a semi-submersible.
However, Washington has yet to release any public evidence to substantiate its claims that the targets were indeed smuggling narcotics, a fact that has led legal experts to question the legality of using lethal force in international waters against suspects who have not been intercepted or questioned.
President Trump's own rhetoric has been both aggressive and at times contradictory, further fueling the uncertainty and fear in the region.
During the same Thursday roundtable where he touted his anti-cartel successes, he issued a flat denial of the B-1 bomber flights, telling reporters, "No, it's not accurate. It's false."
In the same breath, however, he reiterated his deep grievances with Maduro's government. "But we're not happy with them," he said. "They've emptied their prisons into our country."
He also made it clear that he sees the campaign as a direct and lethal action that does not require congressional approval. When asked why he was not seeking a formal declaration of war, a power that the U.S. Constitution grants to Congress, the President was dismissive.
"We're not going to necessarily ask for a declaration of war," he said. "We're just going to kill people who come into our country."
It is this aggressive posture and the clear indications of a widening conflict—with Trump openly suggesting that strikes on land could be "next"—that has led many to believe the true objective of the military buildup is not drug interdiction, but the overthrow of Nicolás Maduro, whom the U.S. government has accused of heading a drug cartel.
This suspicion has created a surprising and significant fissure within President Trump's own "America First" base. As reported by The New York Times, prominent conservative commentators like Stephen K. Bannon and influential outside advisers like Laura Loomer have raised alarms about a potential slide into another "forever war," with Bannon pointedly asking if the Venezuela campaign is a "breeding ground for neocon 3.0."
In Caracas, the Venezuelan government is taking the American military posturing with the utmost seriousness.
The country's defense minister, Vladimir Padrino, was seen on Thursday overseeing military exercises along the coast, a direct response to the U.S. deployment.
He directly addressed Trump's authorization of covert action, stating, "We know the CIA is present" in Venezuela.
"They may deploy -- I don't know how many -- CIA-affiliated units in covert operations... and any attempt will fail," Padrino declared, vowing resistance to any U.S. incursion.
The escalating tensions are also pulling in other regional actors. The government of Trinidad and Tobago, an island nation located just off Venezuela's coast, announced late Thursday that a U.S. warship would be docking in its capital, Port of Spain, from October 26 to 30.
The Trinidadian foreign ministry confirmed that a unit of U.S. Marines would be conducting joint exercises with its own defense forces.
This development is particularly sensitive, as two of the individuals killed in the U.S. strikes at sea were reportedly citizens of Trinidad and Tobago, highlighting how the American campaign is having a direct and often deadly impact on the citizens of neighboring countries.
As the U.S. continues to project its military might and President Trump continues to issue bellicose threats, the situation in the Caribbean is becoming increasingly precarious.
Maduro's plea for "no crazy war" is a reflection of the deep anxiety felt across a region that finds itself once again at the center of a high-stakes geopolitical confrontation.
While Washington insists its focus is on drug traffickers, its actions—from the deployment of strategic bombers and warships to the authorization of covert CIA operations—speak a language of military coercion that many interpret as a clear and present threat of war.
The question that remains unanswered, as one analyst cited by The Washington Post warned, is whether what began as a limited action against alleged drug smugglers could quickly and disastrously expand into an interstate war, regime change, and all the unpredictable and tragic consequences that would inevitably follow.
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